Dubai's Burj Khalifa will no longer be world's tallest tower as THIS country is building..., not US, China or India but...., its height will be...
Saudi Arabia's Jeddah Tower surpass Dubai's Burj Khalifa: In a matter of viral news that is getting worldwide attention, Saudi Arabia has officially resumed the construction of the Jeddah Tower, aimed to break all existing records as the world's tallest structure, Burj Khalifa. For those unversed, the Burj Khalifa, with a total height of 828 m, is a megatall skyscraper located in Dubai, United Arab Emirates is currently called the world's tallest structure. Readers should note that the Jeddah Tower was initially launched in 2013 and then stalled due to financial and political challenges. However, now, the construction of Jeddah Tower has finally resumed in Saudi Arabia. Will Saudi's Jeddah Tower surpass Dubai's Burj Khalifa?
As per media reports, the ambitious $2.6 billion project is set to exceed 1,000 meters in height, dethroning Dubai's Burj Khalifa (828 meters) as the tallest building on Earth. More importantly, the tower designed by renowned architect Adrian Smith will not only make headlines due to its height but also having a multifunctional space that will house luxury residences, a Four Seasons hotel, office spaces, and retail outlets.
The revival of the tower is also seen as a sign of improved investor confidence in Saudi Arabia as the country struggles with depleting crude oil reserves. India, Saudi Arabia bolster bilateral ties
Meanwhile, Union Health and Chemicals and Fertilisers Minister, JP Nadda visited Saudi Arabia, highlighting strong economic ties between India and Saudi Arabia focusing on enhancing bilateral cooperation in the chemicals and fertilisers sector, an official statement was quoted by a report by news agency IANS.
A a part of the visit, JP Nadda led a high-level delegation for the two-day official visit over the weekend. The minister held discussions with the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al Khorayef, in Riyadh on mechanisms to strengthen partnership in fertilisers, petrochemicals and pharmaceutical sectors, the report said.
(With inputs from agencies)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
9 hours ago
- Time of India
UAE: Arada Developments seeks $500 million Islamic bond as construction booms
DUBAI: United Arab Emirates property firm Arada Developments is seeking up to $500 million from an Islamic bond, or sukuk, two sources familiar with the matter said, as it joins other property firms tapping debt markets amid a construction boom in the Gulf state. Sharjah-based Arada would join a slew of Gulf property firms to issue bonds this year, which have tapped debt markets for financing needs and to capitalise on a real estate boom as Gulf countries accelerate economic diversification strategies. Arada plans to launch the bond next week and use funds from the debt sale to acquire new land, the sources said, declining to be named because they were not authorised to speak publicly. The plan was not yet finalised, they said. A spokesperson for Arada did not respond to a Reuters request for comment. Arada last tapped debt markets in September for a $150 million tap of its $400 million sukuk due 2029 which attracted strong demand and offered a yield of more than 7%. In the Middle East and North Africa, issuers raised a record $32.2 billion through sukuk in the six months to June 30, according to LSEG data, defying tariff uncertainty, geopolitical tensions and volatile oil prices. Regional developers which have raised Islamic debt this year include Dubai's Sobha Realty and Omniyat, both raising $500 million in May. Arada was established in 2017 by Sharjah 's deputy ruler, Sheikh Sultan bin Ahmed AlQasimi and Prince Khaled bin Alwaleed bin Talal AlSaud, the son of Saudi billionaire Prince Alwaleed Bin Talal. It has projects and assets in its home country, and expects to launch sales and construction in Australia by the end of 2025. The company posted total revenue of $1.1 billion last year, up around 40% from 2023, according to a company presentation.
Time of India
10 hours ago
- Time of India
Saudi Pro League: Foreign company buys stake in Al Kholood Club - a first in the kingdom
Players from Al Kholood, a football club in Saudi Pro League. (Image: X/SPL) Saudi Arabia announced the privatisation of three football clubs in the Saudi Pro League on Thursday, with American-led Harburg Group becoming the first foreign company to acquire a Saudi club through its 100% purchase of Al Kholood Club. This development is part of the country's Vision 2030 reform initiative aimed at diversifying the oil-dependent economy. "The Harburg Group has officially completed the 100 percent acquisition of Al Kholood Club, of the Saudi Pro League, as part of the groundbreaking privatisation initiative of Saudi Vision 2030," the group, led by Ben Harburg, stated. The sports ministry confirmed the broader privatisation effort in a separate announcement: "The first three Saudi sports clubs have been privatised through a public offering — Al Ansar, Al Kholood, and Al Zulfi — with their ownership transferred to investment entities." Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW! Al Kholood, which finished ninth in the 18-team Saudi Pro League last season, joins Harburg Group's portfolio alongside their 6.5 percent stake in Spanish second-division club Cadiz. Saudi Arabia has transformed its football landscape since late 2022, attracting high-profile players like Cristiano Ronaldo and Karim Benzema to compete in the Saudi Pro League. The kingdom's football ambitions extend beyond club ownership, as they prepare to host the 2034 FIFA World Cup. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like TV providers are furious: this gadget gives you access to all channels Techno Mag Learn More Undo The Saudi football initiative has drawn parallels with the Chinese Super League's previous strategy of importing players with substantial salaries, which eventually faltered due to economic challenges. Sports play a crucial role in Vision 2030, overseen by Crown Prince Mohammed bin Salman , as Saudi Arabia positions itself as a tourism and business destination before global oil demand declines. For real-time updates, scores, and highlights, follow our live coverage of the India vs England Test match here. Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
&w=3840&q=100)
Business Standard
11 hours ago
- Business Standard
Wipro, Saudi's National Grid ink deal to boost operational efficiencies
Wipro signs a multi-year agreement with Saudi National Grid SA to implement a smart meter data management system, improving grid stability and operational efficiencies BS Reporter Wipro has signed a multi-year deal with Saudi electric company, National Grid SA, to implement a smart meter data management (MDM) system for the transmission network. The deal aims to modernize the company's meter data platform, enhance operational efficiencies, and better manage risks. "We are excited to build a long-standing relationship with National Grid SA and are dedicated to assisting them in navigating the evolving energy landscape,' said Vinay Firake, CEO – Asia Pacific, India, Middle East & Africa (APMEA), at Wipro. Wipro will design, develop, implement, and support the infrastructure and smart applications for the new MDM system. Through continuous monitoring, the system will improve grid stability by providing real-time data on power flow, voltage, and equipment data. Wipro will also enable National Grid SA to improve its grid planning through intelligent forecasting and reporting. The intelligent integrations will support proactive maintenance, faster fault identification, and enhance visibility of energy usage patterns. This will allow National Grid SA to optimize its power dispatch, reduce operational costs, and minimize outages.
